ABB announces an AI-based industrial energy consumption forecasting app
- A new machine learning algorithm added to ABB’s software platform allows industrial consumers to avoid peak hour costs with no need of battery storage. Zurich-based corporation has developed two applications for its energy forecasting software assisted by an AI specialist.
ABB in cooperation with Verdigris Technologies is developing software to help enterprises avoid high peak demand energy bills.
Industrial consumers have to pay huge power tariffs for peak hours. As an option, they can use battery storage to prevent such expenses. But Zurich-headquartered technology leader claims to propose an alternative solution as soon as two applications are developed – with assistance from AI specialist – in its Ability EDCS.
The Swiss-Swedish corporation claims its tool will provide accurate power consumption forecasts. The app is meant for identifying patterns in load curves. Based on this together with weather and historical data, the tool creates an energy consumption prediction for 24 hours for a certain building or circuit. The forecast updates with 15-minute intervals. This will allow powering off unimportant loads and avoiding peak charges.
Another new app in Ability software is Intelligent Alerts. ABB states that the tool allows identifying useful info in vast datasets. While energy management software for industrial giants produces unfiltered datasets, the huge volumes of information can be discouraging.
The cooperation with the Silicon-Valley-based technology start-up happened within the framework of ABB’s Open Innovation. The project is aimed at developing advanced digital solutions as well as modern business models. The program scope ranges from smart building energy efficiency applications to electric vehicles. The Swiss-based corporation is planning more future joint projects with Verdigris.